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Favorable research funding scenario, increase in the demand for next-generation sequencing technique in cancer profiling & use of biomarkers in cancer profiling

VANCOUVER, BC, CANADA, July 25, 2022 /EINPresswire.com/ -- The Cancer Tumor Profiling Market is expected to reach USD 31.99 Billion by 2027, according to a new report by Emergen Research. This market's growth is attributed to the increasing use of biomarkers in cancer profiling, eventually rising adoption of proteomic methods for biomarker research, thus helping to increase the drug development process over the estimated period. The growing demand for personalized medicine and the rise in cancer incidence across the globe is augmenting the demand for the industry. According to the World Health Organization (WHO), Lung and Breast cancer is a common type of cancer, with around 2.09 million cases every year. The growing demand for cancer tumor profiling is driving the market for the estimated period.

The rise in the adoption of the cancer tumor profiling methods by oncologists is seen to drive the market because of the efficacy of cancer tumor profiling for diagnosis at the early stage of cancer, which is one factor in boosting the market growth. However, technical issues with sample collection and storage remain one of the factors that hinder the growth of the market for the forecast period.

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The new report titled ‘Global Cancer Tumor Profiling Market’, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Cancer Tumor Profiling market outlook over the forecast duration (2018-2027).

Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market. The study involves the use of efficient analytical tools like SWOT analysis and Porter’s Five Forces to inspect the strengths, weaknesses, opportunities, and threats associated with the growth of the various market segments. The report provides crucial details, such as the market shares of the key players, which help the reader attain a comprehensive outlook of the Cancer Tumor Profiling market.

Key Highlights from the Report

The Genomics segment was valued at 2.76 Billion in 2019, owing to the rise in the research institutes' funding for developing modified medicine is expected to increase the demand for the genomics industry. The use of genomics technology by various companies for cancer tumor profiling is anticipated to increase the overall genomics industry's demand for the upcoming forecast period.

Asia Pacific countries such as China, India, and Japan, have seen a striking increase in cancer tumor profiling. Developing economies, including India, Singapore, and Korea, are anticipated to intensify global demand.

High investments by companies to launch new products for cancer tumor profiling with various advancement in the new technique is augmented to propel the market. For instance, in May 2019, QIAGEN, launched therascreen PIK3CA RGQ PCR Kit as a companion diagnostic to aid in identifying breast cancer patients.

Competitive Terrain:

The Global Cancer Tumor Profiling Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold

Some major companies in the global market report include Caris Life Sciences, Foundation Medicine, GenomeDX, Genomic Health, Guardant Health, Helomics Corporation, HTG Molecular Diagnostics, Inc., Nanostring Technologies, Neogenomics Inc., Oxford Gene Technology, Qiagen N.V., Ribomed Biotechnologies Inc., among others.

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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Cancer Tumor Profiling industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.

Emergen Research have segmented the Cancer Tumor Profiling Market on the basis of technique type, technology, application, and region:

Technique Type Outlook (Revenue, USD Billion; 2017-2027)

Genomics

Epigenetics

Metabolomics

Proteomics

Technology Outlook (Revenue, USD Billion; 2017-2027)

Immunoassays

In Situ Hybridization

Fluorescence In Situ Hybridization (FISH)

Chromogenic In Situ Hybridization (CISH)

Microarray

Polymerase Chain Reaction (PCR)

Sequencing Technologies

Next Generation Sequencing(NGS)

Pyro Sequencing

Sanger Sequencing

Other Technologies

Application Outlook (Revenue, USD Billion; 2017-2027)

Research Application

Biomarker Discovery

Personalized Cancer Medicine

Clinical Application

Oncological Diagnostics

Prognostics

Monitoring and Treatment

Screening

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Key regions covered in the report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis

In-depth 8-year analysis of the Global Cancer Tumor Profiling Market

Critical understanding of the key market segments 

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

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Thank you for reading the research report. To get more information about the customized report and customization plan, kindly connect to us and we will provide you with the well-suited customized report.

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About Us:

At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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Emergen Research
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